Repayment of Compensation Sample Clauses

Repayment of Compensation. In the event that either (a) all or any portion of the amounts payable and benefits provided to the Executive under this Agreement from and after the date hereof are disallowed by the Internal Revenue Service as deductible expenses on grounds that they do not constitute a "reasonable allowance" of compensation and/or (b) such amounts and benefits are deemed by a court of competent jurisdiction (the "court") to constitute a waste of corporate assets, Executive agrees to reimburse to MFI such amounts and benefits to the extent of the disallowance and/or the amount of payments and benefits deemed to constitute such waste within thirty (30) days after MFI has notified Executive of the amount so disallowed and/or characterized. Executive hereby also agrees to any modification of the terms of this Agreement which MFI deems necessary and/or appropriate in light of the Internal Revenue Service's disallowance and/or the court's finding.
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Repayment of Compensation. In any case where an employee is paid by the District, during any absence due to illness or injury, where the employee receives compensation from a third party (e.g. ICBC) for an accidental bodily injury or illness, there shall be no "double dipping". Employees shall agree to repay to the District the total amount of compensation they received, or will in future receive, from the District for the period(s) of disability resulting from the above-noted accident or illness, in the event that they receive any compensation from a third party, (e.g. ICBC) for that same period(s). This reimbursement to the District will represent that portion of wages and benefits paid by the District.
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Repayment of Compensation. On or before December 31, 2007, Xxxxxx shall repay to the Company $20,550,000 (“Settlement Amount”) of the compensation realized by Xxxxxx in calendar year 2007 as a result of his March 2007 option exercises. The Settlement Amount will be transferred to the Company from the funds held in escrow (“Escrow Account”) pursuant to the Letter Agreement between Xxxxxx and UHG, dated March 26, 2007, governing Xxxxxx’x March 2007 option exercise (“Original Option Letter”). Immediately after the Effective Date, the parties will jointly petition the Federal Court for an order (a) authorizing the use of funds in the Escrow Account to facilitate the payment of the Settlement Amount to UHG and (b) otherwise terminating the Original Option Letter and the Escrow Account. In the event that such order is not issued on or prior to December 14, 2007, this Agreement shall terminate and shall be null and void in its entirety effective as of December 31, 2007.
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Repayment of Compensation. Agent agrees to repay to Southland on demand any unearned compensation or any compensation received by Agent for or with respect to premiums returned to policyowners by Southland for any reason.
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Repayment of Compensation. Except in event of a Policy holder’s surrender pursuant to the Phoenix Product’s contractual surrender provision where the return of compensation for such surrender is specifically addressed in the Compensation Schedule(s), Producer agrees to repay to Phoenix any unearned compensation or compensation received for, or with respect to, premiums or payments returned to the Policy holders by Phoenix for any reason, including without limitation a rescission, termination, or agreed resolution of any dispute with the Policy holder. Producer will be responsible for the indebtedness to Phoenix of any Representative. Any compensation not repaid by the Representatives will be first deducted against the account of the Representative, but if some or all of the balance is deemed unrecoverable by Phoenix in its sole discretion, then the balance of the compensation shall be deducted against the account of the Producer. Producer shall reasonably cooperate with and assist Phoenix in the recovery of any such compensation. The Producer will be jointly and severally liable with the Representative to Phoenix for the repayment of compensation. If Phoenix seeks to recover an indebtedness under this Provision and prevails in whole or in part, Phoenix is entitled to recover its reasonable attorney fees and costs. In the event of any inconsistency between this Provision and the Compensation Schedule(s), the terms of this Provision shall prevail. This Provision shall survive the termination of this Agreement.
Sample 1

Related to Repayment of Compensation

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Amount of Compensation City shall pay Contractor for performance of all Services rendered in accordance with this Contract in an amount not to exceed $2,000,000.

  • Breakage Compensation In the event of (a) the payment of any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.15 and is revoked in accordance therewith) or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 3.03 or Section 11.12, then, in any such event, the Borrower shall, after receipt of a written request by any Lender affected by any such event (which request shall set forth in reasonable detail the basis for requesting such amount), compensate each Lender for the loss, cost and expense (excluding loss of profit) actually incurred by it as a result of such event. For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.04, each Lender shall be deemed to have funded each Eurodollar Loan made by it at the Adjusted Eurodollar Rate for such Loan by a matching deposit or other borrowing in the applicable interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Loan was in fact so funded. A certificate of any Lender setting forth in reasonable detail any amount or amounts that such Lender is entitled to receive pursuant to this Section 3.04 and the reasons therefor delivered to the Borrower shall be prima facie evidence of such amounts. The Borrower shall pay such Lender the amount shown as due on any such certificate within 15 days after receipt of such demand. Notwithstanding the foregoing, this Section 3.04 will not apply to losses, costs or expenses resulting from Taxes, as to which Section 3.02 shall govern. Notwithstanding the foregoing, no Lender shall demand compensation pursuant to this Section 3.04 if it shall not at the time be the general policy or practice of such Lender to demand such compensation in similar circumstances under comparable provisions of other credit agreements.

  • Recovery of Compensation All payments and benefits provided under this Agreement shall be subject to any compensation recovery or clawback policy as required under applicable law, rule or regulation or otherwise adopted by the Company from time to time.

  • Payment of Deferred Compensation Any compensation that has been earned by the Executive but is unpaid as of the Termination Date, including any compensation that has been earned but deferred pursuant to the Company's Deferred Compensation Plan or otherwise, shall be paid in full to the Executive on the Termination Date.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Forfeiture; Recovery of Compensation (a) The Administrator may cancel, rescind, withhold or otherwise limit or restrict the Stock Option at any time if the Optionee is not in compliance with all applicable provisions of this Agreement and the Plan.

  • Fees and Compensation Managers and Officers may receive such compensation and fees, if any, for their services, and such reimbursement for expenses, as may be determined by resolution of the Board.

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

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